Canton

Yiannis estimates $30 trillion in strategically sensitive assets—from OTC derivatives to repo and securities lending—cannot tokenize on public chains because exposing positions leaks competitive intelligence, while only $30 billion in RWAs currently live on public blockchains, mostly non-strategic instruments like Treasuries and stablecoins. Privacy solutions like stealth addresses remain undeployed at scale after years, leaving institutions to choose between accepting information leakage, creating expensive pointer systems, or selecting private infrastructure like Canton Network, where Broadridge settled $8 trillion in monthly repo volume in April 2026.

Yiannis argues most commentary on Canton Network misses the fundamental point because observers are trying to understand it through the wrong lens rather than from first principles.

Kunal argues Canton converges major crypto narratives—RWA tokenization, institutional adoption, privacy, stablecoins—with DTCC, Nasdaq, Broadridge, and global banks deploying real workflows across treasury tokenization, repo financing, and collateral management. Canton's purpose-built architecture enables granular transaction privacy and validator-level control; weekly burns up 216% since launch with burn-to-mint ratio at 0.90 approaching deflation, yet the network generates highest revenue among major L1s ($74.7M in February, 2.8x Solana) while trading at lower multiples because markets view it as financial infrastructure rather than general-purpose blockspace.